Last weekend, the Bitcoin price suffered a major crash, falling below $60,000 for the first time this cycle. In contrast, there has been some recovery, with the price rising above $62,000 on Sunday as investors returned to the market. However, this recovery seems to be only a stopgap solution for the time being, because according to one analyst, something bad is coming for Bitcoin and that is going to happen today.
Is a Black Monday planned?
Analyst WhaleTwits did this on the X platform (formerly Twitter). sounded the alarm for what could be a Monday to remember for Bitcoin. This comes after the market crashed towards $59,000 last week moved into the bearish area This again suggests that the worst is not yet over.
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According to the crypto analyst, something bad is expected to happen to Bitcoin on Monday, which is today. However, this doesn’t seem to be ‘bad’ in the sense everyone expects. Instead, the crypto analyst warns investors against panic during this period.
WhaleTwits explains that major investors and institutions are actually using this time of investor panic to pack their bags. If this is the case, it means that they are actually expecting the Bitcoin price to drop and start recovering soon.
Could Bitcoin be a repeat of the Silver run?
Talk about how high The Bitcoin price could risethe analyst points to the Silver performance of the past year. Silver had a historic 600% run that left the market in awe, despite its large market cap. The analyst points this out and suggests that the Bitcoin rally could be even more remarkable.
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The chart shared with the post suggests that the Bitcoin price will rise above $50,000. Once this bottom is confirmed, the crypto analyst expects the cryptocurrency pioneer to see a so-called ‘Parabolic Mark-Up’.
The upside of this trend takes the Bitcoin price to almost $500,000 before reaching a top. As for the time frame, the chart shows that this will play out between 2026 and 2028, giving a two-year window for Bitcoin to complete what would happen. undoubtedly be a historic move.
Featured image of Dall.E, chart from TradingView.com